In brief:
Makes it worse

Outer ear infections usually result when swimmers do not get rid of the water in their ear canal.

This over-hydrates the skin, which will crack and expose bodyserum that germs live on. Peroxide turns to water when it bubbles up.While it could transiently kill some germs, the extra moisture aggravates the problem. If there is a hole in the eardrum, that crap is pushed into sensitive areas.

In brief:
Makes it worse

Outer ear infections usually result when swimmers do not get rid of the water in their ear canal.

This over-hydrates the skin, which will crack and expose bodyserum that germs live on. Peroxide turns to water when it bubbles up.While it could transiently kill some germs, the extra moisture aggravates the problem. If there is a hole in the eardrum, that crap is pushed into sensitive areas.
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